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So, under the old model, order 200k engineers applied to us. Because we were exclusive gatekeepers, around 3% of those were "accepted" onto the platform. Around
by ammon 5y ago
So, under the old model, order 200k engineers applied to us. Because we were exclusive gatekeepers, around 3% of those were "accepted" onto the platform. Around 2/3 of accepted candidates received an offer, and around 1/2 of offers were accepted.
- mikeg8 5y agoSo you accepted 6K onto platform, about 4k got offers, and just under 2k accepted. Roughly a 1% conversion rate for those who applied? Yikes.
- meowface 5y agoI don't know much about them, but the post does say their goal was to be "exclusive gatekeepers". If you consider it from that perspective, they had more like a 1/3 conversion rate (2/3 * 1/2). But conversion kind of seems like the wrong metric.
- mikeg8 5y agoWhat metric would make more sense here, though? I can agree that from TBs perspective, they may not factor total applicants as their base # (although that is clearly their market). However this exclusivity of only using the small percentage they accept doesn’t seem to be a scalable business model. Having 1% of the devs who try their service actually accept an offer would not entice me to try their service.
- meowface 5y ago>However this exclusivity of only using the small percentage they accept doesn’t seem to be a scalable business model. For sure. That's very likely why they're making this pivot. Exclusivity was their goal, but it just turned out to not be a very profitable goal for them, it seems. I was basically just saying it seemed to be a "theory" issue rather than an "implementation/execution" issue.
- twic 5y agoNo, the conversion rate is the fraction of companies who sign up which eventually hire someone.
- deleted 5y ago[deleted]